Bitcoin surpassed the $100,000 mark for the first time on Thursday, driven by optimism following Donald Trump’s decision to appoint a crypto enthusiast to lead the U.S. Securities and Exchange Commission (SEC).
Traders celebrated the move, interpreting it as a signal that the new administration might push for deregulation in the cryptocurrency sector.
The digital currency had already experienced a remarkable surge since Trump’s election on November 5, climbing over 50% in value and rising approximately 140% since the start of the year.
Before hitting a record high of $103,800.44, Bitcoin’s progress had slowed in recent weeks, hovering just below the $100,000 level as investors awaited a new catalyst. That catalyst came with the announcement that Trump had nominated Paul Atkins, a strong supporter of cryptocurrencies, to head the SEC. Atkins, who served as an SEC commissioner from 2002 to 2008, founded the risk consultancy firm Patomak Global Partners in 2009, which counts cryptocurrency companies among its clients.
Additionally, Atkins has co-chaired the Digital Chamber of Commerce since 2017, an organization that advocates for the use of digital assets.
